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Consider the following 2020 data for Orange County General Hospital (in millions of dollars): Static Budget Flexible Budget Actual Results Revenues $4.7 $4.8 $4.5 Costs

Consider the following 2020 data for Orange County General Hospital (in millions of dollars):

Static Budget Flexible Budget Actual Results

Revenues $4.7 $4.8 $4.5

Costs $4.1 $4.1 $4.2

Profits $0.6 $0.7 $0.3

Calculate and interpret the profit variance

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